Your Money, Your Future

Understanding the South African Budget Speech
It’s that time of the year again when the Minister of Finance presents the budget speech. This might seem like just another political event for many young South Africans. But it’s more than that – it’s about your future, dreams, and the country you’ll inherit.

What’s the Big Deal? The budget speech, typically delivered in late February, is a roadmap of how the government spends the nation’s money. Think of it as a giant household budget but for the entire country. With the election around the corner this year, the stakes are even higher.

SONA vs Budget Speech: What’s the Difference? Before diving into the budget, let’s clear up some confusion. There’s the State of the Nation Address (SONA), which outlines the government’s plans. Then, there’s the Budget Speech, which tells us how these plans will be funded. The SONA usually comes first, setting the stage for the budget discussions.

What Happens Post-Speech? After the speeches, Parliament reviews and approves the budget, ensuring the funds align with the government’s plans. This process is crucial for accountability and transparency.

Voices of the Youth: To bring this closer to home, I interviewed a Grade 12 student, Hayley Nightingale, 18, from West Ridge Durban Kwa-Zulu Natal, about her views on the budget speech. Their insights remind us that this isn’t just about numbers – it’s about real-life impacts on our communities and futures.

What are your thoughts on the Budget Speech?
“To be honest, I have mixed feelings. On the one hand, it’s a crucial process, but sometimes it feels disconnected from our daily realities.”
What’s Your Understanding of the Budget Speech?
“From what I understand, it’s like a big annual meeting where the government outlines its financial plans – sort of like a family deciding how to spend its income, but on a national scale. They talk about where the money will be spent, like infrastructure, healthcare, education… basically the country’s necessities.”
Why Should a Grade 12 Student Care About It?
“Well, it’s about our future, right? We need to know how the government is using our, or our parents’, tax money. Are they investing in areas that will benefit us tomorrow?”
Your View on Local Maintenance Issues?
“Seeing issues like blocked drains and the lack of maintenance around here is frustrating. It makes you question if the budget is being properly used. These problems affect our health and safety. It’s about how effectively our government is translating budget plans into real action.”
If You Were the Finance Minister, What Would You Change?
“I’d focus on making sure the budget is actually spent where it’s supposed to be. It’s not just about allocating funds; it’s about following through. Every bit counts, whether it’s fixing potholes or ensuring public facilities are working. Proper budget use can gradually improve the country, even with small, consistent steps.”

So, why should you, as a young person, pay attention to the budget speech? It’s about knowing where your hard-earned money (or your family’s) is going. It’s about being informed and prepared for changes affecting your daily life and future opportunities.

What are your thoughts on the budget speech? How do you think it will impact your life and community? Share your views and join the conversation. Remember, this isn’t just about the government; it’s about you and the future you’re building.

8 Responses

It plays a critical role in shaping economic policies and priorities, affecting everything from public services to community development....It can lead to improved access to essential services, enhancing quality of life and it can foster job creation and economic growth, benefiting local communities.

Moyase Millicent Sithole · a month ago

Been honestly I think it will change a lot of life for the youth by investing in education and on the saft and health side programs it will make a big impact.

nzi…@gmai... · 6 months ago

* sighs * I think we all know where this is going. Every year same dreams, no action. But as said with the tensions of upcoming elections, there might be a few plot twists, which the country will like to audience.

Lebogang Shokane · 9 months ago

I think government should pay a visit after budget of the year is done in all of these departments to see if is there any changes is the money being spent well or because during ulwabiwo Mali there are billions that are given to each department but no changes as there are hospital that are still poor in terms of doctors, nurses and environment as well even in school there are still school without safety where you always here that there was break in even in high institution there are learners who don't have places to stay while thousands of learners are still at their home because of not getting school there is still a lot need to be fixed

Chuma Mzize · 9 months ago

To be honest, our money is going to waste. No. 1 What is the point of paying corrupt police officers who even accept bribes. They are the reason why South Africa is unsafe. No. 2 where is the money for road maintenance going because if you look around, there are roads that have potholes. No. 3 what is eskom doing with the money the government gives them, because we're sick and tired of loadshedding. And I almost forgot, as prices are increasing, why aren't salaries increasing because wow things are expensive. No. 4 why aren't they building more schools and more clinics and hospitals, alot of doctors are unemployed and alot of children at the age of 8 don't know what is school.

Anonymous · 9 months ago

If our government should atleast took little money from their budget then fix infrastructures our country would become a better place . Some people who lives in rural doesn't have pure water they still use water from the river and it's not good for their health.

Evah Ngobeni · 9 months ago

The country's purse is shrinking, and every Budget Speech every year starkly paints this picture. Most of budge is spent on social relieves (which is a constitutionally good thing) but the government must empower its citizen to be independent and not rely on the grants, that way the nation's purse can expand. It was rather disappointing to hear President Cyril Ramaphosa gloating that under his government people rely on social grants. That is not something to be proud of. When people are independent, that's when you know the government is functioning well. Technology is here, and the government need to invest in it. Stuff like data subsidies are important so that more and more people can gain access to the internet and empower themselves. People should be taught more about computers, learn how to code and other stuff so they can empower themselves. Education is another issue. I understand it is complex thing to tackle, but this thing of local councillors not knowing how to read and write is wrong.

Motebang Disene · 9 months ago

My government should focus more on Infrastructure and Education. The struggle is real, they need to up their game.

dol…@gmai... · 9 months ago

Your Money, Your FutureMoney Matters — Mon, 19 February 2024

Your Money, Your Future
Money Matters — Mon, 19 February 2024